The Bank of Nova Scotia (TSE:BNS) Receives Average Rating of "Hold" from Brokerages

Key Points

• The Bank of Nova Scotia has received a consensus rating of "Hold" from thirteen research firms, with eight hold ratings, four buy ratings, and one strong buy.
• Analysts have set an average price target of C$85.85 for the stock, with some targets reaching as high as C$93.00.
• The bank recently declared a quarterly dividend of $1.10, which equates to an annual yield of 5.0% based on its current stock price.

The Bank of Nova Scotia (TSE:BNS - Get Free Report) NYSE: BNS has been given a consensus rating of "Hold" by the thirteen research firms that are presently covering the stock, Marketbeat.com reports. Eight analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is C$85.85.

BNS has been the subject of a number of analyst reports. Royal Bank Of Canada lifted their target price on shares of Bank of Nova Scotia from C$80.00 to C$86.00 and gave the company a "sector perform" rating in a research note on Wednesday, August 27th. Barclays lifted their price target on shares of Bank of Nova Scotia from C$81.00 to C$86.00 in a research report on Wednesday, August 27th. National Bankshares set a C$81.00 price target on shares of Bank of Nova Scotia and gave the company a "sector perform" rating in a research report on Monday, September 22nd. Canaccord Genuity Group lifted their price target on shares of Bank of Nova Scotia from C$87.00 to C$90.00 and gave the company a "buy" rating in a research report on Wednesday, August 27th. Finally, TD Securities lifted their price target on shares of Bank of Nova Scotia from C$87.00 to C$93.00 and gave the company a "buy" rating in a research report on Wednesday, August 27th.

Bank of Nova Scotia Stock Down 0.4%

TSE BNS opened at C$88.84 on Friday. The stock has a market capitalization of C$110.66 billion, a PE ratio of 16.99, a price-to-earnings-growth ratio of 1.33 and a beta of 1.30. The company has a 50 day moving average price of C$85.11 and a two-hundred day moving average price of C$76.33. Bank of Nova Scotia has a 12-month low of C$62.57 and a 12-month high of C$91.47.

Bank of Nova Scotia Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 29th. Stockholders of record on Wednesday, October 29th will be given a $1.10 dividend. The ex-dividend date of this dividend is Tuesday, October 7th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 5.0%. Bank of Nova Scotia's dividend payout ratio (DPR) is currently 81.84%.

About Bank of Nova Scotia

Bank of Nova Scotia is a global financial services provider. The bank has five business segments: Canadian banking, international banking, global wealth management, global banking and markets, and other. It offers a range of advice, products, and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets.

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